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2078 Eastwood Drive Snellville, GA 30078

4 Beds 3 Baths 1,817 sqft Built 1974

$200,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $110.07
  • 4 Days on Market
  • MLS # : 6815311
  • Updated Date : 12/04/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,817 sqft
  • Baths : 3 full
Listing Agent's Description

Estate Sale with remarkable potential and ready for your personal touch and upgrades. Home features a rare to find 4 car detached garage that makes an excellent car / workshop. No HOA or rental restrictions. Roof was replaced 1o year's ago and both HVAC units and furnace are less then 4 years old. Water heater was recently replaced. Basement makes an excellent work shop area.

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MARKET HIGHLIGHTS

  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • #1 World’s Busiest Airport(Airports Council International, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro's economy is worth $403 billion in Gross Metro Product and projected to grow to $426 billion in 2019 (USMayors.org, 2018)
  • Headquarters to twenty-six Fortune 500 companies: The Home Depot, UPS, Delta Air Lines, The Coca-Cola Company, SunTrust Banks, The Southern Company, AGCO, PulteGroup (Fortune, 2018/ Metro Atlanta Chamber)

PRICE & RENT TRENDS

Zip Code: 30078

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200kPrice in $103k209k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 30078

ZipNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9671564

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Pharr Elementary School Primary Regular 658 51 9
Couch Middle School Middle Regular 996 52 9
Grayson High School High Regular 2,767 155 7

Pharr Elementary School

  • Education Level: Primary
  • # of students: 658
  • # of teachers: 51
9
GreatSchools Rating

Couch Middle School

  • Education Level: Middle
  • # of students: 996
  • # of teachers: 52
9
GreatSchools Rating

Grayson High School

  • Education Level: High
  • # of students: 2,767
  • # of teachers: 155
7
GreatSchools Rating
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$738
Property Tax -$210
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$261

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$200,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

10.67

YEARS SAVED

$37,574

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,390

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,458

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,3903$1,5004$1,5505$1,550
$1,550
RENT COMPS ANALYSIS
  • 2078 Eastwood Drive Snellville, GA 2
    • 4 beds 3 baths ∙ 1,817 Sqft ∙ Built 1974 4 beds 3 baths ∙ 1,817 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.76
    •  
  • 2129 Chaparral Drive Snellville, GA 1
    • 3 beds 2 baths ∙ 1,837 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,837 Sqft ∙ Built 1976
    property image
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.75
    •  
  • 1964 North Road Snellville, GA 3
    • 3 beds 2 baths ∙ 1,833 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,833 Sqft ∙ Built 1973
    property image
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.82
    •  
  • 2183 Timber Lane Snellville, GA 4
    • 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 1969
    property image
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.88
    •  
  • 1948 Walden Park Drive Snellville, GA 5
    • 4 beds 3 baths ∙ 2,049 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,049 Sqft ∙ Built 1993
    property image
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.76
    •  
PROPERTY LISTING DETAILS
Christine Mark
1.404.285.6403
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6815311
Last Updated: 12/04/2020
support@investimateroi.com

Listings identified with the FMLS IDX logo come from FMLS, are held by brokerage firms other than the owner of this website and the listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. © 2017 First Multiple Listing Service, Inc.

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